The news: Stripe will acquire stablecoin startup Bridge in a deal worth $1.1 billion.

• Bridge’s software lets businesses accept stablecoin-based cross-border payments. The company boasts a strong customer base, including big names like Coinbase and SpaceX.
• The acquisition is Stripe’s largest to date—and the largest crypto acquisition by a major payments company.

Bridge launched less than 3 years ago and was valued at just $100 million in a late 2023 funding round. Bridge CEO Zach Abrams said the company has grown more than tenfold just in the past year.